Updated Thursday evening
From this press release, Further update on the Clergy Pensions Scheme – Recession forces contribution increase.
“However the Pensions Board judged that on the basis of what is now known it could not responsibly leave the existing funding in place until 2011 when any changes to the contribution rate resulting from the next formal valuation would be implemented. The Board has therefore decided that the contribution rate will need to be increased from its current 39.7% to 45% of the pensionable stipend with effect from 1 January 2010.
Read the whole statement.
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